i Ex allowance the allowance method? l bad debt expense under the direct write-off and allowance for methods The following OBJ. 5 for ending transactions were taken from the records Rustic Tables Company of June 8. Wrote off account of Kathy Quantel, $8,440. Aug. 14. Received S3,000 as partial payment on the si2,500 account of Rosalie oakes. oct. 16. wrote off the remaining balance as uncollectible. Received the from account had been written off on June 8. Reinstated the account and recorded the cash receipt. Dec. 31. wrote off the following accounts as uncollectible (record as one journal entry): Wade Dolan $4,600 Greg Gagne 3,600 Amber Kisko 7,150 Shannon Poole 2,975 Niki Spence 6,630 31. If necessary, record the year-end adjusting entry for uncollectible accounts a. Journalize the transactions under the direct write-off method. b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning credit balance of $36,000 on January 1 and the company uses the analysis of receivables method. Rustic Tables Company prepared the following aging schedule for its accounts receivable: Receivables Balance Estimated Percent of Aging Class (Number on December 31 Uncollectible Accounts of Days Past Due) $320,000 0-30 days 110,000 31-60 days 24,000 61-90 days 33 18,000 91-120 days 75 000 More than 120 days $515,000 (Continued Total receivables